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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Revenues $ 101,388 $ 80,116 $ 266,414 $ 202,042
Cost of revenues (67,776) (62,232) (188,382) (167,839)
Gross profit 33,612 17,884 78,032 34,203
Operating expenses:        
General and administrative expenses (11,841) (24,980) (59,146) (68,874)
Research and development expenses (10,692) (13,241) (32,291) (33,609)
Selling and marketing expenses (4,963) (6,031) (15,580) (16,916)
Impairment loss from long-lived asset (12) (422) (64,924) (473)
Total operating expenses (27,508) (44,674) (171,941) (119,872)
Subsidy income 1,082 442 2,351 1,156
Profit/(loss) from operations 7,186 (26,348) (91,558) (84,513)
Other income and expenses:        
Interest income 186 582 551 3,481
Interest expense (4,290) (491) (8,116) (1,437)
Changes in fair value of warrant and convertible loan 2,766 (42) 1,240 (25)
Other income 7,399 127 7,864 673
Profit/(loss) before provision for income taxes 13,247 (26,172) (90,019) (81,821)
Income tax expense 0 0 0 0
Net profit/(loss) 13,247 (26,172) (90,019) (81,821)
Less: net loss attributable to noncontrolling interests 0 (42) 0 (21)
Net profit/(loss) attributable to Microvast Holdings, Inc.'s shareholders $ 13,247 $ (26,130) $ (90,019) $ (81,800)
Net profit/(loss) per common share        
Basic net profit/(loss) per share (in dollars per share) $ 0.04 $ (0.08) $ (0.28) $ (0.26)
Diluted net profit/(loss) per share (in dollars per share) $ 0.03 $ (0.08) $ (0.28) $ (0.26)
Weighted average shares used in calculating net profit/(loss) per share of common stock        
Weighted average shares used in calculating net profit/(loss) per share of common stock, basic (in shares) 320,545,388 313,108,457 317,153,113 309,541,499
Weighted average shares used in calculating net profit/(loss) per share of common stock, diluted (in shares) 367,031,181 313,108,457 317,153,113 309,541,499